Why Do Small Scale Business Fail In Nigeria

QuestionsWhy Do Small Scale Business Fail In Nigeria
Editorial Staff asked 1 year ago

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1 Answers
Segun answered 1 year ago

There are so many factor that contribute to failure of small scale business in Nigeria. Firstly you ought to know that small scale business is a privately owned corporations, partnerships or sole proprietorships that have fewer than a regular-sized business or corporation.

Here are some of the reason why small scale business fail in Nigeria, the reason are: Starting wrong business, Wrong location for business, Lack of planning, Poor management, Lack of focus, Lack of Market awareness, Impulse spending and Poor communication with customers.
Starting wrong business is one of the major reasons why small scale business in Nigeria failed. People starting small scale business don’t normally check what they wanted to do but do jump into it for no reason or all because they have someone beside them doing the same business which is wrong. If you want to start a successful small scale business my advice for is to sit back and make a good choice of what business you are good in before you start and other factors too.

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